2 M&A Rumors Moving The Market

DISH Network Corp DISH gained nearly 5.7 percent Thursday after multiple independent reports that it's in talks to combine with T-Mobile US Inc. TMUS.

Dish changed hands recently at $74.82, up $4.01; T-Mobile gained about 3.7 percent, trading at $39.74.

The Wall Street Journal, citing people familiar with the matter, said negotiations are at an early stage and price and structure haven't been agreed on.

Reuters independently cited inside sources who said talks are underway.

Dish has a market capitalization of about $32.9 billion, while T-Mobile, 66 percent owned by Deutsche Telecom, has a market cap of $31.06 billion.

Representatives for Dish and T-Mobile reportedly declined to comment on the reports.

Pharma Deal?

Separately, Benzinga Pro reported that "market chatter" on Thursday suggested that Bristol-Myers Squibb Co BMY would be acquired by Pfizer Inc. PFE.

Bristol Myers spiked briefly earlier Thursday, trading recently at $65.91, up 0.3 percent. Pfizer was changing hands at $34.19, down about 0.6 percent.

If Pfizer acquired Bristol Myers, it would be among the largest drug mergers in history, given Bristol Myers' current market cap of more than $100 billion.

Representatives for Bristly Myers and Squibb declined to comment on the Benzinga Pro report. In a statement, Pfizer said it "does not comment on market rumor or speculation."